Difference between revisions of "2023-SANT-Companies"
(Created page with "Financial years ending on any date between 1 April 2019 and 31 March 2020 South African Normal Tax for Companies Ordinary companies are required to pay normal tax on their ta...") |
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| − | Financial years ending on any date between 1 April | + | Financial years ending on any date between 1 April 2022 and 31 March 2023 |
South African Normal Tax for Companies Ordinary companies are required to pay normal tax on their taxable income at a rate of 28% | South African Normal Tax for Companies Ordinary companies are required to pay normal tax on their taxable income at a rate of 28% | ||
A company qualifies for small business corporations tax if it meets the requirements of Section 12E(4)(a) of the Income Tax Act. The rate is determined by reference to a sliding scale depending on the magnitude of the taxable income: | A company qualifies for small business corporations tax if it meets the requirements of Section 12E(4)(a) of the Income Tax Act. The rate is determined by reference to a sliding scale depending on the magnitude of the taxable income: | ||
| − | Taxable income | + | {| |
| − | R0 to | + | ! style="text-align:left;"| Taxable income |
| − | + | ! Tax | |
| − | R365 001 to R550 000: | + | |
| − | Greater than R550 000: | + | |- |
| + | |||
| + | |||
| + | |- | ||
| + | |R0 to R91 250: | ||
| + | | R0 | ||
| + | |- | ||
| + | |R91 251 to R365 000: | ||
| + | | 7% of the amount greater than R91 250 | ||
| + | |- | ||
| + | |R365 001 to R550 000: | ||
| + | | R19 163 + 21% of the amount greater than R365 000 | ||
| + | |- | ||
| + | |Greater than R550 000: | ||
| + | |R58 013 + 28% of the amount greater than R550 000 | ||
| + | |- | ||
| + | |||
| + | |} | ||
Latest revision as of 07:02, 25 March 2022
Financial years ending on any date between 1 April 2022 and 31 March 2023
South African Normal Tax for Companies Ordinary companies are required to pay normal tax on their taxable income at a rate of 28%
A company qualifies for small business corporations tax if it meets the requirements of Section 12E(4)(a) of the Income Tax Act. The rate is determined by reference to a sliding scale depending on the magnitude of the taxable income:
| Taxable income | Tax |
|---|---|
| R0 to R91 250: | R0 |
| R91 251 to R365 000: | 7% of the amount greater than R91 250 |
| R365 001 to R550 000: | R19 163 + 21% of the amount greater than R365 000 |
| Greater than R550 000: | R58 013 + 28% of the amount greater than R550 000 |
